Salesforce launched its first-ever AI pitchfield, an innovation-driven competition meant for AI-led Indian and Southeast Asian startups. Developed in partnership with Salesforce Ventures, Lightspeed India, and Khaitan & Co., this platform focuses on B2B SaaS and AI-first startups and thereby offers a chance to win a $100,000 investment from Salesforce Ventures. This initiative entails Salesforce’s commitment to fueling the AI-driven transformation in the business sector by empowering the next wave of AI entrepreneurs.
AI Litchfield is designed to recognize and support transformative AI solutions that will change the future of business. The eligible startups have until November 30, 2024, to submit their applications with a pitch deck, product demo, and financial details via the competition website. The top five ideas, culled after a comprehensive review process, will be presented before a distinguished panel of tech and business leaders in a grand finale on 9 January 2025.
The competition is working toward taking innovative AI businesses to the next level through a network where collaboration and critical resources are acquired for growth, according to Salesforce.
A startup company has to meet several requirements to participate in the following eligibility criteria: They must offer B2B SaaS or AI-enabled products or services; be at the pre-seed, seed, or Series A fundraising stage; and have raised at least $500,000 before funds from a leading VC firm. Moreover, the applicants for such competitions are required to be based in either India or Singapore and must have had more than five payments from customers. In the case of Indian entrants, it is required to have been considered a “startup” by the Department for Promotion of Industry and Internal Trade, Government of India. All the terms and conditions placed on the AI Pitchfield website shall be followed strictly.
AI Pitchfield also marks a strategic step toward increasing connections in the AI ecosystem, from large players and startups to investors. This tie-up with Salesforce Ventures, Lightspeed India, and Khaitan & Co. will look to bring forth these AI-driven startups with an aspiration to boost their market base. Such valuable resources and investment options, plus strategic exposure to leaders in the industry, will become available to these startups.
AI Litchfield is now open for applications from startups looking to shape the AI-driven future, with the possibility of scaling up their innovations through strategic mentorship and industry visibility. Applications close on November 30, 2024, and the live pitch finale will take place on January 9, 2025.
Any eligibility requirements and information on how to apply can be found on AI Pitchfield’s website. It’s just one step toward a much broader goal for Salesforce: to try and unlock the potential of AI for businesses and industries, making these startups key players in rewriting the global technological future.
Source: PTI